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Equities researchers at Barclays reduced their price target on shares of Splunk (NASDAQ:SPLK) from $78.00 to $51.00 in a research report issued on Friday. Barclays’ target price points to a potential upside of 11.48% from the stock’s previous close.

In other Splunk news, CEO Godfrey Sullivan sold 20,000 shares of the stock on the open market in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $44.14, for a total value of $882,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Splunk (NASDAQ:SPLK) opened at 45.75 on Friday. Splunk has a 52-week low of $41.07 and a 52-week high of $106.15. The stock has a 50-day moving average of $54.76 and a 200-day moving average of $70.49. The company’s market cap is $5.394 billion.

Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, February 27th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.02. The company had revenue of $99.90 million for the quarter, compared to the consensus estimate of $90.36 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 53.2% on a year-over-year basis.

Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Agricole upgraded shares of Splunk to an “outperform” rating in a research note on Tuesday. They now have a $66.00 price target on the stock, down previously from $110.00. Separately, analysts at Cantor Fitzgerald reiterated a “buy” rating on shares of Splunk in a research note on Thursday, May 15th. Finally, analysts at Goldman Sachs cut their price target on shares of Splunk from $92.00 to $55.00 in a research note on Thursday, May 15th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $80.44.

Splunk Inc (NASDAQ:SPLK) provides a software platform.

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